Economics
Commodities Jump to Five-Month High as QE3 Boosts Metals
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Commodities surged to a five-month high after the Federal Reserve announced a third round of fiscal measures to bolster the U.S. economy, fueling expectations that raw-material use will increase.
The Standard & Poor’s GSCI Spot Index of 24 raw materials rose 0.6 percent to settle at 687.22 at 3:59 p.m. New York time. Earlier, the gauge reached 689.22, the highest since April 5. The measure climbed for the sixth straight session, the longest rally since July 19. Silver and gold gained the most in 10 weeks, leading the rally.